The Global Active Pharmaceutical Ingredient Market accounted for US$ 164.89 billion in 2020 and is estimated to be US$ 339.08 million by 2030 and is anticipated to register a CAGR of 7.5%. A drug or a combination of pharmaceuticals that can be used in a finished pharmaceutical product is known as an active pharmaceutical ingredient (API) (FPP). APIs and excipients are the two most important ingredients in the production of a medicine. The API is the ingredient that makes up the medicine, whereas the excipient is a substance that isn't the drug but works as a medium to help the body absorb it, such as lactose or mineral oil in a pill. A physiologically active ingredient (API) is a component of a drug product that is used to treat, diagnose, or prevent disease.
The report " Global Active Pharmaceutical Ingredient Market, By Type (Generic and Branded), By Business Mode (Captive API and Merchant API), By Synthesis Type (Synthetic and Biotech), By Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, and Orthopedic), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’
Key Highlights:
· In 2020, Pfizer (US) signed a multiyear agreement with Gilead Sciences to manufacture and supply Gilead’s antiviral drug (Remdesivir) for the treatment of COVID-19.
· In April 2020, Boehringer Ingelheim (Germany) acquired Northern Biologics, which focuses on therapeutic antibodies targeting the tumor microenvironment. This acquisition broadened Boehringer Ingelheim’s oncology product portfolio.
Analyst View:
The global market is being driven by the rising prevalence of infectious diseases, cardiovascular diseases, and other chronic ailments among people around the world. Because of the increased occurrence of cancer, various manufacturers are concentrating on the creation of highly powerful APIs (HPAPI) and specialty APIs, which is supporting the global market's growth. According to WHO figures, cancer is the second biggest cause of death worldwide, accounting for 9.6 million deaths in 2018. Over the forecast period, increased healthcare expenditure and a growing senior population in emerging nations are expected to boost the target market's growth. However, the worldwide active pharmaceutical ingredients (API) market is likely to be hampered by rising counterfeit medicine penetration and unfavorable drug price control policies in several countries over the forecast period.
To know the upcoming trends and insights prevalent in this market, click the link below:
Key Market Insights from the report:
The Global Active Pharmaceutical Ingredient Market accounted for US$ 164.89 billion in 2020 and is estimated to be US$ 339.08 million by 2030 and is anticipated to register a CAGR of 7.5%. The Global Active Pharmaceutical Ingredient Market is segmented based on the type, business mode, synthesis type, application and region.
· By Type, the market is segmented into Generic and Branded.
· By Business mode, the Global Active Pharmaceutical Ingredient Market is segmented into Captive API and Merchant API.
· By Synthesis Type, the market is segmented into Synthetic and Biotech.
· By Application, the market is segmented into Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, and Orthopedic.
· By Region, the Global Active Pharmaceutical Ingredient Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2019, North America is anticipated to dominate the global market, followed by Europe.
Competitive Landscape:
The key players operating in the global Active Pharmaceutical Ingredient market includes Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer, Inc., Bristol-Myers Squibb, Novartis AG, Boehringer Ingelheim, GlaxoSmithKline plc., Eli Lilly and Company, AbbVie Inc., and Merck & Co., Inc. Technological advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global market.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
